ICAN private equity firm Carlyle has bailed out Brintons the carpet makers.
Investing £18m, the Carlyle Strategic Partners is also assuming £18m in liabilities after Friday witnessed Brintons’ fall into a pre-pack administration.
Part of the deal is the scrapping of Brintons’ old pension scheme, which is to transfer to the state-supported Pension Protection Fund. The more recent pension fund scheme will remain.
Carlyle last week bought a minority stake in Avalon Advisors.